SYMC runs into sellers again around 22.79
SYMC ended Thursday at 22.32 losing $0.03 (-0.13%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was $0.63 (2.83%), that's slightly below last trading month's daily average range of $0.72. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 18.85 and 22.79 which it has been in now for the last trading week.
After having been unable to move above 22.68 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 22.79.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Symantec Corp.
|Close to R1 Resistance||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
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